ISLAMABAD (Kashmir English): The federal government is advancing the digital transformation of the Central Directorate of National Savings (CDNS) in a bid to modernize services and improve accessibility for millions of savers across Pakistan.
According to the Pakistan Economic Survey 2025-26, the initiative aims to reduce reliance on traditional in-person visits to National Savings Centres by introducing digital payment solutions and online account management services.
The CDNS serves as the retail arm of the government’s savings network and offers National Savings Schemes (NSS) tailored for small investors, pensioners, widows and senior citizens. As of March 31, 2026, the NSS portfolio stood at approximately Rs3.6 trillion, representing nearly 10 percent of Pakistan’s banking deposits and 6.5 percent of the country’s total domestic debt.
Under the ongoing digitalisation programme, customers can now receive profit payments through cheques, ATM withdrawals and direct transfers via the Raast payment system, significantly reducing the need for account holders to visit savings centres physically.
To further improve accessibility, the organisation has launched a mobile application that enables users to access savings products and manage accounts digitally. Official data shows that around 350,000 debit cards had been issued by March 2026, while the number of active mobile application users reached approximately 90,000.
As part of efforts to expand digital financial services, CDNS has also soft-launched a co-branded credit card in collaboration with the Bank of Punjab.
The reforms come at a time when Pakistan continues to face challenges in increasing formal household savings. Despite the availability of National Savings Schemes, a significant portion of personal savings remains invested in informal assets such as real estate, gold and foreign currency.
Financial experts believe that improved digital access to savings products could encourage more people to use formal savings channels, strengthen financial inclusion and help mobilise funds for productive economic activities.
Economic analysts also note that declining real incomes and higher taxation have reduced the capacity of households to save in recent years, making accessible and efficient savings instruments increasingly important for consumers.
